UFX Review 2018
Forex trading is serious business. That’s why you need a serious broker if you want to be successful. You need an established name with loads of experience. UFX fits the description perfectly, since it has been a part of this industry for more than a decade. People respect what they do and how they do it, plus they have an excellent reputation in the trading community. Why? That’s what this text will show you. In it, we will analyse every feature of the broker’s offer that will have an impact (positive, of course) on your trading experience. Don’t you worry, there are plenty of those, and we have our best people on the job. Once you’re done with this UFX review, you will know exactly what to expect and whether or not the company is right for you. We firmly believe it is, but allow us to elaborate on that. Let’s get going!
UFX account types
The best way to start this analysis is to examine the first steps you need to make and everything that goes along with it. The registration process is a pretty simple and straightforward one: one short form is the only thing standing between you and your UFX account. However, depending on how much you deposit after that, things start to get pretty diverse.
We will talk about standard UFX account types first, of which there are five, before we switch to those that are not your typical packages. So, the choices you have here are: Micro, Mini, Standard Gold and Platinum. The basic features of all of them are access to a well-equipped video library, daily reviews of the market, daily recommendations from the broker and non-stop support. That’s what you get with the Micro account for which you have to invest 100$. The top two UFX account types (Gold and Platinum, for which the minimum deposit is 5,000$ and 10,000$, respectively) will allow you access to MetaTrader 4 in addition to exclusive updates and VIP support which are the features associated with the two lower-tier accounts (Mini 500$, Standard 1000$). So, you have a really nice set of packages to choose from, but like we said, there are some other account types you need to be aware of. Stay with this UFX review to learn about them, too.
UFX Islamic account
Now, this is a feature all serious brokers will have. Not surprisingly, given how many traders belong to Islam. This kind of trading is especially popular in the Middle East, so surely many people will be happy to take advantage of what UFX Islamic account has to offer.
In order to set things up, just contact the support team and they will explain everything about the process to you (more about the support here later in the article). In a nutshell, the UFX Islamic account comes with the same numbers as the Platinum package (10,000$ minimum deposit), but you will of course be able to trade in full accordance with the main principles of your faith if you’re a Muslim (no usury and stuff like that). All other main features will be available to you, naturally. If you want to check out how things work without having to risk anything, though, you can do that, too. The next part of our UFX review will tell you how.
UFX demo account
No good broker will deprive you of a way to explore the platform and practice your trading skills in peace. People running this website know that this is something of extreme significance for every trader, which is why you can access the UFX demo account so easily. As a matter of fact, right after you complete that one short form we talked about earlier, it will become available to you. There is no need to make a deposit – with a simple click, you can switch your profile to practice mode.
So, what do you get from your UFX demo account? Quite a lot, actually. 10,000 virtual dollars will be awarded to your balance, but what is more important is the fact that you will have access to all the most advanced trading features. This includes things like market sentiment, various tips and notifications price alerts etc. There is a lot to unpack when you register here, especially if you’re not a very experienced trader, so we sincerely recommend you spend some time with your UFX demo account. You will be a better trader because of it. But since we’re on the subject of trading options, perhaps it would be best to take a look at the platforms you can trade on while on this website. Yes, there are plenty of those, too.
UFX trading platform
The main UFX trading platform is the one company developed itself. It is based on the so called MassInsights Technology which allows you to keep track of all major changes on the market in real time. We absolutely loved trading here primarily because of the constant stream of useful information from the market. For example, you will be notified when an asset’s price is rising or falling quickly, when an asset’s trading volume increases a lot abruptly, when turnarounds happen, when trends start to form etc. We think this feature is absolutely brilliant because it diverts your attention immediately to where all the action is. You don’t have to waste time browsing the market if you don’t have a pre-defined investment target – with a click or two you can get to where the action is most intense.
This UFX trading platform is also the basis of the previously mentioned demo account, so you will be able to explore MassInsights Technology as much as you want as soon as you register here without any risk. Furthermore, we have to say that the whole environment here is excellently designed, so although a lot of information will be coming your way, everything can be comprehended rather easily. Good graphical solutions are the main reason for that because the broker doesn’t just throw numbers at you – they will usually be represented with an icon, graph or something like that which is easy to read and doesn’t require much energy to decipher. In addition, MassInsigths Technology is also used in UFX Web Trader, which at the moment is the 4.0 version of ParagonEX. No download is required for this, and any web trader can run this platform, so all you need to trade is a solid internet connection, essentially. No feature of this impressive technology will be lost if you go for this version of the platform, plus you will be able to customize your interface and access pages dedicated to each asset individually which contain a huge amount of data. However, this is just the beginning – there is one more platform you can use. The next part of our UFX review will talk about this classic from the forex trading world.
UFX Metatrader 4
Yes, companies do often develop their own trading software, but some things simply cannot be replaced. That’s why UFX MetaTrader 4 is also in the line-up of available platforms on this website, but as we have said earlier, it can only be accessed by Gold and Platinum account holders. As a matter of fact, Platinum account holders will get additional benefits from trading here, such as lower spreads, for example.
UFX MetaTrader 4 platform can easily be downloaded from the broker’s website, and the whole thing lasts just a couple of minutes or so. After that, you will gain access to everything that has made this trading software so famous in the trading world: loads of analytical tools with which you will be able to approach the market in a variety of different ways, trading interface which can always be adjusted as you see fit and numerous trading features that can be automated if you so desire. Charts are extremely easy to follow and convey everything you need to know about the market effortlessly, so one glance at your screen will be all you need to assess the situation. Therefore, if you’re more of a pedantic trader who likes to take their time before making an investment decision, UFX MetaTrader 4 is definitely the choice for you. Of course, no serious broker would let their clients go about without a reliable way to trade on the go. Let’s see what this company has to offer in that regard.
Yes, you can trade on the go if you sign up with this broker. As a matter of fact, that’s exceptionally easy thanks to UFX app, a completely free piece of software that can be downloaded both for Android and iOS devices. Once again, MassInsights Technology takes center stage because what you get here is a version of UFX Web Trader adjusted for your mobile devices, but the changes are really minimal compared to what you get with the desktop version.
Therefore, the list of features that come with the UFX app is quite impressive. You will have all data concerning traders’ behaviour just a tap away, be able to track your trades easily, execute your every order in a blink of an eye and make the most of every asset UFX offers (remember, there is a separate page full of data for each of them). Furthermore, the UFX app will allow you to make the most of the rewards and bonuses the broker offers, which is another big plus. After seeing all of this, there is no doubt in our minds that you will have everything you need for successful trading here, no matter if you choose to trade on the go or from a desktop platform. However, there are still some overarching aspects of trading on this website that we haven’t mentioned yet. We’ll talk about them in the next part of this UFX review, so just read on.
Forex trading always brings with itself certain numbers that go along with every trade. By this, we primarily mean spreads and leverage. They affect your every trade, so there’s no way around them when writing an article like this.
Let’s start things off here with UFX spreads. Compared to what other brokers offer, they are pretty standard, although they will vary a bit depending on which account type you have. For example, UFX spreads applied to Mini and Micro accounts for the EUR/USD pair are 4 pips, but for Gold and Platinum accounts they are set to only two. The same principle goes for pretty much all other assets here, although the differences between accounts will vary, obviously. We must also say that Islamic account holders will in most cases be able to benefit from the lowest possible spreads. This is not the case with UFX spreads for cryptocurrencies where they will, in some cases, have the largest possible spreads applied to them. There is a full list of assets and the spreads that go along with them on the website, so you can easily check everything out. In some rare cases, UFX spreads can vary, but you will be notified of that immediately. Finally, there is also the possibility of encountering custom spreads for which you will have to contact the customer support if you want to find out how big they are. Let’s now get to the other important parameter of trading here – the leverage.
If you have some experience with forex brokers, you know that not all of them offer the same leverage. This is important because, as you probably already know, it allows you to control larger amounts of assets. So, the bigger the leverage, the more power you have.
UFX leverage goes all the way up to 1:400, which is significantly higher than the industry’s average and another bit plus for trading here. However, just like in the case of spreads, UFX leverage you can get changes depending on which type of assets your trading. You can check everything out on the assets’ page of the broker’s website, but just to give you an example we will say that the leverage goes to 1:400 for all the most popular currency pairs, whereas indices can get you 1:50 and stocks something around 1:20. We emphasize once again, all information on every asset on offer here is readily available, so do invest a couple of minutes to learn about your investment target a bit. It will help you out a lot. But the bottom line is that UFX leverage can reach levels most other brokers cannot offer you and with that we think we have now covered pretty much everything concerning the trading conditions on this website. Therefore, it is now time to move this UFX review to other topics. Financial topics, to be more exact. Stay tuned to learn about payment methods, financial requirements and much more.
Well, that was pretty extensive, wasn’t it? Yes, there is sea of trading features on this website, but if you want to trade here you need to put something into your live account first. Makes sense, you can’t invest without money, right? So, what are your options here?
UFX deposit methods are actually a great way to see how much this company has developed over the years. You have several varieties of credit and debit cards (Visa, Visa Electron, Diners, Maestro, MasterCard) at your disposal, numerous online payment methods (Skrill, Neteller, Sofort, ELV, giropay and many more), bank transfers can also be used and, to top everything off, you can even make a deposit in Bitcoin. All of this wouldn’t be possible if the company wasn’t working continuously on adding new payment channels.
The minimum UFX deposit you can make is 100$ which is, as mentioned at the beginning of this review, enough to open you a Micro Account. However, the broker recommends that you initially deposit at least 500$, so that you can immediately access all features necessary for the full trading experience. There are no UFX deposit fees you need to worry about either – what you deposit is what will appear in your account’s balance. However, choosing the right deposit method is extremely important because of the effect it has on your withdrawal. We will explain everything in the next paragraph, so just keep reading and everything will become clear very soon.
So, UFX withdrawals. What do you need to know about them? Well, their financial conditions are a good start because you can just waltz into your account and take all the money. There are certain procedures to go through and certain conditions you have to meet.
The methods you can use to perform a UFX withdrawal are the same ones you can use for deposits. EXACTLY the same. What we mean by that is that the way you get your money back is via the same method you used to put the money into your account in the first place. So, for example, if you deposit via wire transfer, you also have to withdraw that way, too. It can take up to two weeks for the transfer to be complete, but this is usually closer to like three to five days. It all depends on where you live, which method you’re using and stuff like that.
What puts UFX withdrawals head and shoulders above the competition in this industry are the numbers associated with it. You see, minimum UFX withdrawal starts at only 25$, which is definitely one of the lowest requirements of its kind in the world right now. This allows you to freely trade without worrying how much you have in your balance because the chances are you will have enough to withdraw, especially given the size of the minimum deposit here. Furthermore, UFX withdrawal also does not carry any fees with it, which makes this company one of the rare cases in the forex industry where you can both deposit and withdraw without any additional expenses. Of course, do keep in mind that some charges may occur when your withdrawing, but these will come from the provider of the payment service you’re using, not the broker. If you ever have any questions about all of this, don’t hesitate to contact the support team. They are excellent at what they do, as you will see from the next part of our UFX review.
Yes, whatever you want or need to know about this company can be found out almost immediately, all thanks to the great support on this website. You can send them an e-mail, of course, but the service goes so farther beyond that. You see, since the company is regulated by CySEC (as stated in our UFX Scam Investigation), their headquarters is in Cyprus. But apart from that, they have a branch in the Czech Republic, plus separate phone numbers for people from 21 different countries. 21! From Italy to the United Arab Emirates, everything is covered. UFX support also excels when it comes to live chat because that feature is available non-stop and the people working there are very quick to respond when you need them. They will check where you’re from and then provide you with detailed information on what is available in your part of the world. Apart from that, the company can also be reached on Twitter and Facebook, and they even have their own YouTube channel, so if you’re on one of those social networks don’t hesitate to follow them.
As for the materials that are available on the website, you can check out a very detailed FAQ section, learn all about the risks of this type of trading, get to know each of the broker’s policies etc. In short, UFX support has made sure you never have to waste time looking for the information about the company. Everything is right there on the website. But are there any complaints that could be made about the way these people do business? Find out in the next part of UFX review!
No broker is perfect. When you’ve been as long in this industry as we have, you see that all too clearly. And no broker can satisfy everyone, either. There will always be people complaining about something. The thing is, you have to be able to see how justified and how serious these objections are. That’s what we always try to do when talking to other people trading with the same broker we’re analysing. So, what are the most common UFX complaints?
Well, there are two main UFX complaints we’ve been encountering on regular basis. The first one is that there is no bonus available. The reason for this, however, is the fact that CySEC, the body dedicated to regulating the financial markets in EU does not allow it. So, the fact that there is no bonus is because that is simply not allowed. The other common UFX complaint is that you need to invest 500$ for a decent account. Sure, you can invest less, but even the company recommends that you consider this a minimum. This is slightly higher than in the rest of the industry, so it’s no wonder people keep pointing it out. While we cannot deny this, we would argue, however, that the offer here is worth every cent you invest. The quality of this broker is simply that high. So, we see where these people are coming from, but for the first objection there is a reasonable explanation and the second one doesn’t necessarily have to be that bad.
These are not the only UFX complaints we encountered, but they are the most reasonable ones. There were some people that complained about how this broker cannot be trusted, but we simply cannot confirm that. We never encountered a single problem while trading here, plus the company has more than a decade of experience and is fully regulated. Considering how the people who claimed to have problems never gave any details about their problems or provided any evidence, we believe we can dismiss their statements as unfounded.
UFX Review: Conclusion
And that concludes our UFX review. Surely, after seeing all of this, you can understand why this company has had so much success over the years and why it represents the very best in the forex trading industry. A huge variety of account packages is bolstered by Islamic and demo account, plus you have several trading platforms at your disposal, too. This results in an immense amount of trading options, all running perfectly well every second of every day. More interesting possibilities become visible when we get to the financial department, as there are plenty of money transfer methods too, with more than reasonable requirements and conditions. If you want to earn something extra, don’t forget about the competitions that take place here – apart from winning some nice prizes, you can have a lot of fun, too. You can see from every part of the offer that the broker genuinely cares that you have the best possible trading experience, which is certainly something worthy of admiration. The great support team spearheads the efforts there. All in all, you can’t go wrong with this company. It is experienced, well managed, dedicated to its clients and has loads to offer. Open an account with UFX if you want to trade in the best conditions possible.
– low minimum deposit (25$)
– loads of payment options
– advanced trading technology
– many different account types
– excellent support
– somewhat high initial deposit needed to get a good start (500$)